Govt may sell assets of errant builder to complete pending projects

According to experts, this is the first time that home buyers are facing a problem of this scale

Thousands of home owners in beleaguered real estate developments owned by Jaypee Infratech and Amrapali Group are running out of options as both head for National Company Law Tribunal (NCLT).
 
While senior officials in the finance ministry said the government is working on ways to provide relief to home buyers, consumer rights and real estate experts believe homeowners would not be able to do much if these companies are declared insolvent.
 
NCLT has admitted the insolvency petition filed by IDBI Bank against the debt-ridden Jaypee Infratech and it has allowed Bank of Baroda's plea against Amrapali Group. Home